Napa’s Shafer Vineyards Sold

One of Napa’s iconic wineries has changed hands, part of a generational shift in the premier U.S. wine region. Doug Shafer, president of Shafer Vineyards, announced Feb. 16 that Shinsegae Property, a major luxury-brand firm based in Seoul, South Korea, with department stores, shopping centers, golf resorts, hotels and other interests, has acquired the winery. Details were not disclosed, but the price tag is reportedly $250 million, which includes 225 acres of prime Napa vines. Find out more about the major winery sale.